Red Robin Gourmet Burgers Inc. reported Tuesday a 26-percent increase in net income for its April 21-ended first quarter, saying its new line of premium Black Angus burgers and increased advertising boosted sales.
A 5.4-percent increase in company-owned unit same-store sales included a 0.5-percent increase in traffic, with average check rising 4.9 percent, the company said. Greenwood Village, Colo.-based Red Robin ended the quarter with 496 restaurants, including 362 company-owned full-service locations, five fast-casual Red Robin Burger Works units and 129 franchised restaurants.
In March, the company acquired four franchised units in New York for about $8 million. Red Robin has agreed to acquire an additional 32 franchised units in the U.S. and Canada for about $40 million in a deal expected to close in late summer.
1Q NET INCOME
Result: $11.9 million, or 82 cents per share% Increase: 26% (from $9.5 million, or 66 cents per share)
1Q REVENUE
Result: $340.5 million% Increase: 11% (from $306.3 million)
1Q SAME-STORE SALES
% Increase at company-owned units: 5.4%Source: Company report
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